Trump’s approval rating has declined steadily through his second term, falling from initial post-inauguration levels near 47 percent to recent aggregates around 37-38 percent and individual polls as low as 33 percent as of mid-August 2026. Primary pressures include the resumption of U.S. strikes on Iran in July, ongoing military engagements, and associated economic effects such as higher energy prices amid concerns over the Strait of Hormuz. Domestic factors center on affordability and cost-of-living issues ahead of the November midterms. These developments have produced net approval ratings at or near second-term lows, with limited recent catalysts for upward movement in polling. Traders evaluating peak levels for the remainder of 2026 will track any shifts in foreign policy developments, economic indicators, or legislative outcomes that could alter the current downward trajectory.